CHU - Investors Should Pay Attention to China Mobile's 5G Numbers
China Mobile's (NYSE: CHL) stock has plunged 30% over the past 12 months, as China's economic slowdown, protests in Hong Kong, and the novel coronavirus (COVID-19) outbreak all throttled its growth. Government-mandated reductions in wireless fees and the elimination of data-roaming charges exacerbated the pain.
Despite those challenges, China Mobile remains the country's largest wireless carrier provider, with 942.2 million subscribers at the end of February. Moreover, 15.4 million of those subscribers had already upgraded to 5G subscriptions -- up from 6.7 million in January -- which indicates that China's 5G rollout is accelerating. Let's see how China Mobile's 5G plans will shape its future.
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